“It was done knowing we may lose players as well. For players to leave clubs needed to match the valuation.

He added: “We are very fortunate we've got an owner in Matthew Benham who has the foresight to put the strategy in place and the financial clout to bring players in knowing there was a chance players wouldn't go.

“What's surprised people is three players have gone to the same club in the same league. We're happy with the squad we've assembled.”

Smith also confirmed that the ambitions for the season hasn't changed, saying: "With three players going, our target hasn't changed because of departures."